MBIA Insurance Corporation, New York(NY)-Owner, Wikipedia, Subsidiaries, Careers, Credit Rating, News

MBIA Insurance Corporation is a company that provides financial guarantee insurance and other specialized financial services to municipalities, corporations, and investors.

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MBIA Insurance Corporation is more than just a financial guarantee insurer. It is a diversified company with subsidiaries, careers, and a parent company. Discover its history, products, ratings, and news in this article/PHOTO COURTESY: Facebook

It is a subsidiary of MBIA Inc., a holding company that operates in the global financial markets.

MBIA Insurance Corporation was founded in 1973 and is headquartered in Purchase, New York.

MBIA Insurance Corporation Owner

It is owned by MBIA Inc., which is a publicly traded company listed on the New York Stock Exchange under the symbol MBI.

As of June 30, 2023, MBIA Inc. had approximately 113.4 million shares of common stock outstanding, of which about 90% were held by institutional investors.

The largest shareholders of MBIA Inc. as of March 31, 2023, were The Vanguard Group, Inc., BlackRock, Inc., and Fine Capital Partners, L.P.

MBIA Insurance Corporation Wikipedia

MBIA Insurance Corporation has a Wikipedia page that provides a brief history of the company, its products and services, its legal issues and controversies, and its current status.

The Wikipedia page also contains references to external sources and links to related articles.

The Wikipedia page can be accessed at MBIA Insurance Corporation.

MBIA Insurance Corporation Subsidiaries

MBIA Insurance Corporation has several subsidiaries that operate in different markets and regions.

Some of the main subsidiaries are:

  • MBIA Mexico, S.A. de C.V., which provides financial guarantee insurance and reinsurance to structured finance and international public finance obligations sold in Mexico and Latin America1.
  • MBIA UK Insurance Limited provides financial guarantee insurance and reinsurance to public finance and infrastructure projects in Europe, the Middle East, and Africa.
  • LaCrosse Financial Products, LLC, which provides asset management and trustee services to structured finance transactions.
  • Cutwater Asset Management Corp. provides investment management and advisory services to institutional clients.

MBIA Insurance Corporation Careers

MBIA Insurance Corporation offers career opportunities for professionals with diverse backgrounds and skills in various fields, such as:

  • finance
  • accounting
  • legal
  • risk management
  • information technology
  • human resources marketing

The company values integrity, excellence, teamwork, innovation, and customer focus.

It provides competitive compensation and benefits packages, as well as training and development programs.

The company’s current job openings can be viewed at MBIA Careers.

MBIA Inc.

MBIA Inc. is the parent company of MBIA Insurance Corporation and its subsidiaries.

It was established in 1986 as a holding company to facilitate the growth and diversification of its core financial guarantee business.

MBIA Inc. operates through three segments:

  1. U.S. Public Finance Insurance
  2. Structured Finance and International Insurance
  3. Advisory Services. M

BIA Inc.’s mission is to provide protection and enhance value for its customers, shareholders, employees, and communities.

MBIA board of directors

The board of directors of MBIA Inc., the parent company of MBIA Insurance Corporation, consists of six members:

  1. Steven J. Gilbert (Chairman)
  2. William C. Fallon (Chief Executive Officer)
  3. Diane L. Dewbrey
  4. Janice Innis-Thompson
  5. Theodore E. Shasta
  6. Richard C. Vaughan

They oversee the management and strategic direction of the company and its subsidiaries.

The board has four committees:

  • Audit
  • Finance
  • Executive
  • Compensation.

MBIA credit rating

MBIA Insurance Corporation, the main subsidiary of MBIA Inc., provides financial guarantee insurance and other services to public finance and structured finance markets.

The company’s credit rating reflects its financial strength and ability to pay claims on its insured obligations.

As of October 2023, the company’s credit rating was:

  • Caa by Moody’s
  • CCC by S&

The ratings were influenced by the company’s exposure to Puerto Rico debt, legal disputes, and market conditions.

MBIA news

Some of the recent news articles about MBIA Inc. and its subsidiaries are:

  • MBIA Inc. Investor Conference Call to Discuss Third Quarter 2023 Financial Results Scheduled for Friday, November 3 at 8:00 A.M. Eastern Time: The company announced that it will host a webcast and conference call for investors on November 3 to discuss its third quarter 2023 financial results.
  • MBIA (MBI) Reports Q2 Loss, Lags Revenue Estimates: The company reported a net loss of $0.45 per share and revenue of $28 million for the second quarter of 2023, missing analysts’ expectations.
  • How To Replicate Elliot’s Success In Argentina: Buy Assured Guaranty And MBIA As They Battle Puerto Rico: An article by Manal Mehta on Seeking Alpha argued that bond insurers Assured Guaranty and MBIA have a strong case against Puerto Rico and could generate significant returns for investors.

FAQs

What does the MBIA stand for?

MBIA stands for Municipal Bond Insurance Association, which is the original name of the company that was founded in 1973.

MBIA is now a holding company whose subsidiaries provide financial guarantee insurance and other specialized financial services.

Does MBIA still exist?

Yes, MBIA still exists as a public company traded on the New York Stock Exchange under the symbol MBI.

As of January 1, 2015, it had approximately 180 employees and as of December 31, 2020, it had total assets of US$3.38 billion and total equity of US$−876 million.

What does MBIA insure?

MBIA primarily insures municipal bonds asset-backed securities and mortgage-backed securities.

Financial insurance or financial guarantees are a form of credit enhancement that improves the credit rating and marketability of the bonds.

MBIA also provides a fixed-income asset management service with about US$40 billion under management.

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